Paycom Software (NYSE:PAYC) Price Target Cut to $184.00

Paycom Software (NYSE:PAYC) had its price target trimmed by Barclays from $193.00 to $184.00 in a report released on Thursday, Benzinga reports. The brokerage currently has an equal weight rating on the software maker’s stock.

Other equities research analysts have also recently issued reports about the company. Needham & Company LLC restated a hold rating on shares of Paycom Software in a research note on Thursday. UBS Group raised their price target on shares of Paycom Software from $235.00 to $250.00 and gave the company a buy rating in a report on Wednesday, January 10th. Jefferies Financial Group reiterated a hold rating and set a $195.00 price objective on shares of Paycom Software in a research note on Friday, January 5th. BTIG Research started coverage on shares of Paycom Software in a research note on Tuesday, February 6th. They issued a neutral rating for the company. Finally, Piper Sandler upped their price target on Paycom Software from $185.00 to $190.00 and gave the stock a neutral rating in a research report on Thursday, February 8th. Sixteen investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Paycom Software currently has an average rating of Hold and a consensus price target of $247.25.

Paycom Software Stock Performance

NYSE PAYC opened at $171.29 on Thursday. Paycom Software has a one year low of $146.15 and a one year high of $374.04. The company has a market capitalization of $9.86 billion, a price-to-earnings ratio of 20.86, a price-to-earnings-growth ratio of 2.92 and a beta of 1.17. The company’s 50-day simple moving average is $189.34 and its two-hundred day simple moving average is $193.38.

Paycom Software (NYSE:PAYC) last issued its quarterly earnings data on Wednesday, February 7th. The software maker reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.15. The company had revenue of $434.60 million for the quarter, compared to analyst estimates of $422.50 million. Paycom Software had a net margin of 26.91% and a return on equity of 32.84%. Paycom Software’s revenue was up 17.3% compared to the same quarter last year. During the same period last year, the company posted $1.38 earnings per share. Equities analysts expect that Paycom Software will post 5.82 earnings per share for the current fiscal year.

Paycom Software Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Tuesday, May 28th will be paid a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 0.88%. The ex-dividend date is Friday, May 24th. Paycom Software’s payout ratio is 18.27%.

Institutional Investors Weigh In On Paycom Software

A number of large investors have recently bought and sold shares of PAYC. Mather Group LLC. purchased a new position in Paycom Software during the 1st quarter worth approximately $26,000. Hexagon Capital Partners LLC increased its stake in shares of Paycom Software by 333.3% in the fourth quarter. Hexagon Capital Partners LLC now owns 130 shares of the software maker’s stock worth $27,000 after acquiring an additional 100 shares during the period. Palisade Asset Management LLC purchased a new position in shares of Paycom Software during the first quarter worth $32,000. Cary Street Partners Investment Advisory LLC lifted its position in Paycom Software by 83.5% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 156 shares of the software maker’s stock valued at $40,000 after purchasing an additional 71 shares during the period. Finally, Transcendent Capital Group LLC purchased a new stake in Paycom Software in the fourth quarter valued at $41,000. Hedge funds and other institutional investors own 87.77% of the company’s stock.

About Paycom Software

Paycom Software, Inc provides cloud-based human capital management (HCM) solution delivered as software-as-a-service for small to mid-sized companies in the United States. It offers functionality and data analytics that businesses need to manage the employment life cycle from recruitment to retirement.